Investors

Corporate governance description and policies

We constantly work on implementing the best Corporate Governance practices along the lines of international market trends and local and foreign standards and regulations, with the aim of keeping and protecting our investors and the community on the whole, as well as fostering transparency in our actions. Over the last years, the legal framework to protect minority investors has considerably widened, particularly in the United States and several European countries. Since then, Corporate Governance has become more and more important to ensure the transparency of the actions of any company listed in the stock exchange, for the eyes of their investors and the community on the whole.We permanently strive to develop and improve our internal policies and procedures, adhering to the best international practices, with the aim of protecting and enhancing company value for all our shareholders.

The objective of our Corporate Governance is to ensure

Greater transparency in our performance, through the outlining of a culture of integrity and openness in our business management. - Effective monitoring through: the continuous improvement of our internal control structure, leadership in compliance with regulations and the adoption of policies addressed to achieve effective risk management. - Proper allocations of accountability. Clear outlining of the extent of responsibility assumed by the Board and managers of our company, related to compliance with internal policies and regulations. Among the measures we implement to ensure the transparency of our actions, we can highlight the following:

- Our Code of Conduct.

- Our Antifraud Policy.

- Our Ethics Line.

- Procedures in Risk Management and Fraud Risk Assessment

Corporate governance practices

Our Corporate Governance practices are regulated by applicable Argentine law (particularly, the Commercial Companies Law No. 19,550 and its amendments), standards issued by the CNV and other competent entities and our own Corporate By-laws. Since some of our securities are registered with the Securities and Exchange Commission (SEC) and listed in the New York Stock Exchange (the “NYSE”) –the largest stock exchange market worldwide - we are therefore subject to the rules and regulations issued by the mentioned NYSE.

Code of conduct

Our Code of Conduct governs the behavior of our Board, statutory auditors, management team and employees, placing an emphasis on the ethics, transparency and integrity of all the people who work at TGS. Among other issues, it sets forth the prohibition to distort information or forge any document, behave in such a way as to damage our company or obtain an improper personal gain in conflict with the corporate interests. It further requires all those who must issue information to be familiar with the procedures of the CNV (Argentine Stock Exchange Commission) and the SEC (Securities and Exchange Commission of the United States) and to inform with transparency.

Code of conduct

Download our code of conduct

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Ethics Line

The Ethics Line is a channel that may be used by TGS’s employees, clients, suppliers and other stakeholders to report -in an anonymous and confidential manner- alleged irregularities and non-compliances with our Code of Conduct. You can report through RESGUARDA, under the following modalities:

Free Line:

0-800-666-0962

Option 1:

Telephone interview.

Option 2:

Telephone messagge.

Option 3:

Fax.

Personal Interview

To be conducted at 25 de Mayo 555 piso 17.

E-mail

reportes@resguarda.com

Web Site

Use the Internet reporting form.

www.resguarda.com

Letter

Send a Letter to RESGUARDA. 25 de Mayo 555 Piso 17.

Statute and Regulations

TGS Social Statute

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Operating Regulations of the tgs Directory

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Regulations of the tgs Audit Committee

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Law 27.275

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